The latest on Pillar Two and the European Commission’s consultation on a new common corporate tax system in the EU are among the developments covered in this month’s review, by Tim Sarson (KPMG).
European Commission consultation on a new common corporate tax system in the EU (BEFIT)
On 13 October 2022 the European Commission (EC) published a call for evidence on policy options for a new corporate tax system referred to as ‘business in Europe: framework for income taxation’ (BEFIT).
BEFIT has emerged in response to the EC’s longstanding concerns that the lack of a common corporate tax system in the European Union (EU) creates a competitive disadvantage compared to third country markets. The initiative proposes common rules for determining the corporate tax base and for the allocation of profits between member states based on a pre-defined formula. Once allocated those profits would be subject to the corporate...
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The latest on Pillar Two and the European Commission’s consultation on a new common corporate tax system in the EU are among the developments covered in this month’s review, by Tim Sarson (KPMG).
European Commission consultation on a new common corporate tax system in the EU (BEFIT)
On 13 October 2022 the European Commission (EC) published a call for evidence on policy options for a new corporate tax system referred to as ‘business in Europe: framework for income taxation’ (BEFIT).
BEFIT has emerged in response to the EC’s longstanding concerns that the lack of a common corporate tax system in the European Union (EU) creates a competitive disadvantage compared to third country markets. The initiative proposes common rules for determining the corporate tax base and for the allocation of profits between member states based on a pre-defined formula. Once allocated those profits would be subject to the corporate...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
